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Myers Industries Inc. Message Board

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  • roderickb99 roderickb99 Oct 13, 2007 8:15 PM Flag

    Will this deal get done?

    Junk market much better etc as of October 12 and this is Goldamn Sachs.

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    • This is also a very SMALL deal if you review all the other deals that are pending.

      • 1 Reply to roderickb99
      • Interesting that you feel the $950M of debt needed for this transaction is SMALL. I've never heard any debt holder say I don't mind getting burned if it is only a SMALL amount like $950M.

        I haven't heard of a road show proceeding, so I assume that S&P is waiting for 3rd quater results before issuing an updated rating. Given that it was bottom junk rated at triple C before, I can't imagine the rating going any lower.

        I assume that GS is going to have to sell the debt below par at this point, meaning management at Myers is going to really have to perform post-closing.

        I wonder what the "value" of the comapny is now, since it was $1.07B when the deal was signed, and performance has suffered considerably. How do you support $950M of debt on assets of only $1B?

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